Pfizer Establishes New Program to Support Continued Biotechnology Innovation
02 Giugno 2020 - 12:00PM
Business Wire
Pfizer Breakthrough Growth Initiative will
invest up to $500 million across a portfolio of clinical-stage
biotechnology companies
Pfizer Inc. (NYSE: PFE) today announced the establishment of the
Pfizer Breakthrough Growth Initiative, through which Pfizer will
invest up to $500 million in biotechnology companies to help
provide funding and access to Pfizer’s scientific expertise to
ensure continuity of the biotechnology companies’ most promising
clinical development programs.
“There has never been a more important moment to pursue new
collaborations in our industry," said John Young, Pfizer's Chief
Business Officer. “The Pfizer Breakthrough Growth Initiative seeks
to do just this by injecting crucial capital into biotechnology
companies that share our commitment to delivering transformative
therapies for patients.”
The Pfizer Breakthrough Growth Initiative will focus on making
non-controlling equity investments in clinical-stage public
companies, with a primary focus on companies with small- to
medium-sized market capitalizations across a range of therapeutic
categories that are consistent with Pfizer’s core areas of focus:
Internal Medicine, Inflammation & Immunology, Oncology, Rare
Disease, Vaccines and Hospital. Partner companies may also have the
opportunity to access Pfizer’s significant expertise and resources
in research, clinical development and manufacturing.
Today’s announcement builds on Pfizer’s long history of
successfully collaborating across the healthcare innovation
ecosystem, through a wide range of flexible partnering and funding
models, with the shared goal of turning great science into
innovative new medicines.
Biotechnology companies interested in learning more may contact
pbgi@pfizer.com.
About Pfizer: Breakthroughs That Change Patients’ Lives
At Pfizer, we apply science and our global resources to bring
therapies to people that extend and significantly improve their
lives. We strive to set the standard for quality, safety and value
in the discovery, development and manufacture of health care
products, including innovative medicines and vaccines. Every day,
Pfizer colleagues work across developed and emerging markets to
advance wellness, prevention, treatments and cures that challenge
the most feared diseases of our time. Consistent with our
responsibility as one of the world's premier innovative
biopharmaceutical companies, we collaborate with health care
providers, governments and local communities to support and expand
access to reliable, affordable health care around the world. For
more than 170 years, we have worked to make a difference for all
who rely on us. We routinely post information that may be important
to investors on our website at www.pfizer.com. In addition, to
learn more, please visit us on www.pfizer.com and follow us on
Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube, and like us
on Facebook at Facebook.com/Pfizer.
Disclosure Notice: The information contained in this
release is as of June 2, 2020. Pfizer assumes no obligation to
update forward-looking statements contained in this release as the
result of new information or future events or developments.
This release contains forward-looking information about the
Pfizer Breakthrough Growth Initiative, including its potential
benefits, that involves substantial risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied by such statements. Risks and uncertainties
include, among other things, the uncertainties inherent in research
and development; uncertainties regarding the ability of the Pfizer
Breakthrough Growth Initiative to identify investment candidates;
uncertainties regarding the success of investments by the Pfizer
Breakthrough Growth Initiative; uncertainties and variables
inherent in business operating and financial performance,
including, among other things, competitive developments and general
economic, political, business, industry, regulatory and market
conditions; future exchange and interest rates; changes in tax and
other laws, regulations, rates and policies; uncertainties
regarding the impact of COVID-19; and competitive developments.
A further description of risks and uncertainties can be found in
Pfizer’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2019 and in its subsequent reports on Form 10-Q,
including in the sections thereof captioned “Risk Factors” and
“Forward-Looking Information and Factors That May Affect Future
Results”, as well as in its subsequent reports on Form 8-K, all of
which are filed with the U.S. Securities and Exchange Commission
and available at www.sec.gov and www.pfizer.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200602005166/en/
Media Relations Amy Rose 646-592-3157
Amy.Rose@pfizer.com
Investor Relations Chuck Triano 212-733-3901
Charles.E.Triano@pfizer.com
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